Sony's core competencies/ capabilities and competitive advantages to my mind are as follows:
miniturization with the use of electronics
innovative designs
manufacturing prowess
good marketing
deep technological know-how
short, if not quick design-to-market cycle Ian indicator of a very integrated in-house system)
high quality products
ability to turn out a variety of products based on core-base design that can target mulitple segments, even subsegments of the market.
Very strong R&D
Other advantages - brand name recognition
the use of proprietary solutions (which can be a disadvantage too) to lock customers into their products
alliances with carl-zeiss for lenses
can focus and be relentless
willing to experiment, make mistakes and learn from their mistakes
Caterpillar